Posts Tagged ‘Mergers & Acquisitions’

JPMorgan’s Dimon Hires His Father for Bear Stearns Brokerage

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Published in Bloomberg November 7, 2009 by Elizabeth Hester 
 
If Jamie Dimon ever needs fatherly advice, he can turn to his newest employee: Dad.
Theodore “Ted” Dimon, the 78-year-old father of JPMorgan Chase & Co.’s chief executive officer, quit Bank of America Corp.’s Merrill Lynch unit yesterday to join his son’s firm, according to a person familiar with the matter. JPMorgan spokesman Darin Oduyoye confirmed the decision and said the unit had added more than 70 brokers this year.

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You Look Maaarvelous… But your future may not

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Expert Perspective by Grahall’s OmniMedia Editorial Board

expert perspective telescopeWe read with raised eyebrows the September 24, 2009 article in the Wall Street Journal titled “Marvel CEO Got Options Ahead of Deal” where authors Ethan Smith and Joann S. Lublin state that “Marvel Entertainment Inc. Chief Executive Isaac ‘Ike’ Perlmutter was granted in excess of 1 million stock options in the weeks after an  employee of Marvel commenced discussions with Walt Disney Co. that ultimately led to the consummation of a merger agreement, according to a filing Disney submitted to the Securities and Exchange Commission.” 

What in the world was Marvel’s Board thinking?  Have they been reading the popular press?  Don’t they know that actions like this will attract “lightning rod like” criticism, even outside the banking business? 
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Marvel CEO Got Options Ahead of Deal

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Published in The Wall Street Journal September 24, 2009 by Ethan Smith and Joann S. Lublin

Marvel Entertainment Inc. Chief Executive Isaac “Ike” Perlmutter was granted stock options for more than a million shares in the weeks after a subordinate opened discussions with Walt Disney Co. that ultimately led to a merger agreement, according to a filing Disney submitted to the Securities and Exchange Commission.

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A Year Later, H.P.’s Bet on E.D.S. Looks Like a Winner

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Published in The New York Times September 23, 2009 by Ashlee Vance

By many measures, it has been a tough year for employees of Electronic Data Systems.

After Hewlett-Packard bought the computer services company last August for $13.9 billion, it immediately began hacking the work force. Led by a master cost-cutter, Mark V. Hurd, H.P. laid off 25,000 E.D.S. workers, and cut the salaries of some by more than 20 percent. Mr. Hurd even stripped the E.D.S. brass of their plush offices and corralled them into 6-by-6-foot cubicles.

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Cha-Cha-Change

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Expert Perspective by OmniMedia’s Editorial Board

expert perspective telescopeMergers require change: operational, managerial, organizational change – and most importantly, individual change.  Employees must understand, embrace and follow new procedures, protocols, strategies and leaders during and after the merger.  As we all know, it’s hard to change. People rely on consistency, normalcy and sameness. We like our home field. The Towers Watson merger has us thinking about the change process that our friends and colleagues at these organizations will face and how they might react. 
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Once they are Mega will Bigga be Betta?

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Expert Perspective by Grahall’s OmniMedia Editorial Board

expert perspective telescopeIn her article for Consulting Magazine, “The Making of a Mega: The New $3.5B Towers Watson & Co.”  Jess Scheer says:  “Last month, the boards of directors of both firms unanimously approved a definitive agreement under which Towers Perrin and Watson Wyatt will combine in a merger of equals to form a new, publicly listed company called Towers Watson & Co.”

Certainly these two giants of HR consulting will combine to create a behemoth, with as much as $3.5 billion in revenues.  And there have been several articles and many professionals quoted (Grahall included) commenting on the challenges of such a merger. 
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Without culture… society … is but a jungle (Albert Camus)

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expert perspective telescopeExpert Perspective by Grahall’s Arlene Brewster, Ph.D.

Why do some mergers succeed and others fail? One of the most important factors behind the success of a merger is the compatibility of the merging companies’ cultures.  It is the clash of company cultures that often leads to a failed merger.  We are hoping that the Watson and Towers management teams have taken a page from their own merger consulting handbook and recognize the importance of creating, communicating and reinforcing an effective and homogeneous culture for the merged entity.   
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The HR Consultant Smack Down is Coming

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Expert Perspective by Grahall’s OmniMedia Editorial Board

expert perspective telescopeAlthough the media has moved onto other topics (from the renewed vigor of the markets to rumors about the role Michael Jackson’s doctor played in his untimely death) the HR Consulting community continues to boil over with conversations and considerations about how to take advantage of the pending merger of Towers Perrin and Watson Wyatt. 
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The Making of a Mega: The New $3.5B Towers Watson & Co.

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Published in Consulting Magazine July 20, 2009 by Jess Scheer

The new $3.5 Billion Towers Watson & Co. certainly will alter the HR landscape—and turn up the heat on rival Mercer

In the high stakes poker game of running global consulting firms, Watson Wyatt CEO John Haley and Towers Perrin CEO Mark Mactas just went all-in.

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We Didn’t Say You Couldn’t…

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Expert Perspective from OmniMedia’s Editorial Board

expert perspective telescopeIn 2006 the SEC established rules regarding Compensation Discussion and Analysis (popularly referred to as CD&A) and now with executive compensation headlining news reports on an almost daily basis, the SEC is considering expanded CD&A disclosure requirements.  Per the SEC’s press release #2009-147  these measures “…are intended to better inform and empower investors to improve corporate governance and help restore investor confidence”.
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